Annual Average Silver Price (Dollars per troy ounce)1st of December, the price of silver had increased by $0 53, to $5 83, as above-ground stocks of silver declined to the lowest level in many years The price of silver reached its high for 1997 on December 24 at $6 24 and closed out the year at $5 95 per ounce; the price ratio of silver to gold was 48:1

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